Billionaire Marc Rowan Explains Why He Doesn't See a Recession Coming | At Barron's

In this episode of At Barron's, host Andy Serwer interviews Marc Rowan, CEO of Apollo, discussing the structural shifts in the market and their implications for Apollo. Rowan highlights the increasing concentration and correlation in public markets, driving investors towards private markets for alpha and diversification. He differentiates between "private" and "alternative" investments, emphasizing that private markets offer both safe and risky options, similar to public markets. Rowan explains Apollo's two main businesses: retirement services and asset management, underlining their alignment with investors through significant balance sheet investments. The conversation touches on the opportunities and risks associated with Athene, Apollo's insurance business, and addresses concerns about broadening retail investor exposure to private markets. Rowan also discusses Apollo's stock performance, governance, and his views on the U.S.'s economic and political landscape, including university reforms and ethical leadership. He concludes by offering advice to young people aspiring to a career on Wall Street.